
Cryptocurrencies were created to avoid the issue of governments printing new money, causing inflation and decreasing the collective value of everyone’s savings, as happened during the Bailouts of 2007/08. In order to prevent inflation, several cryptocurrencies have a limit, or a market cap which would be reached sometime in the far future. Once the limit is reached, no-one can create more. For instance BitCoin caps at 21 million coins. Most cryptocurrencies do not have a central, regulating authority, instead, they operate in a fully decentralised system which means that no single individual or group has totalitarian control over your finances.
Continue Reading